2007 May

May 31, 2007

Global markets higher

by Elaine Frei

Equities markets in Asia and the Pacific were higher on Thursday. The Straits Times index in Singapore added 0.47 percent to 3,511.13. In India, the Sensex gained 0.92 percent to 14,544.46, while in Australia the Sydney Ordinaries were 1.12 percent higher to 6,341.8. The Hang Seng index in Hong Kong closed at 20,634.47, a gain of 1.68 percent on the session. ...

Survey: 1 in 6 UK residents keep their money at home

by Elaine Frei

Where have you go your money hidden? A new survey from Virgin Money indicates that UK residents have at least £3.5 billion in cash stashed around the house rather than in a bank collecting interest. This, Virgin points out, is the more than the equivalent of the gross domestic product of The Bahamas, or enough money ...

Bank of England data: Mortgage approvals down in April

by Elaine Frei

New Bank of England data shows that mortgage approvals were at their lowest level in a year in April, the third month in a row that fewer new mortgages were given the go-ahead. There were 107,000 mortgage approvals in April, compared to 111,000 in March. Buyers borrowed £8.9 billion more in the month, the smallest gain ...

May 30, 2007

China markets lower on higher tax on share transactions

by Elaine Frei

Asian and European equities markets were lower on Wednesday after exchanges in China fell significantly after the government there tripled the stamp duty tax on share transactions. The Shanghai Composite closed 6.5 percent lower on the session to 4,053.01 after falling as much as 7.4 percent during the day. The Shanghai and Shinzhen 300, which indexes ...

Lloyds wins another overdraft case; more judges express displeasure at bank’s failure to appear

by Elaine Frei

...

Mortgage lending down as house prices continue to rise

by Elaine Frei

House prices remain on the rise in the UK, according to the Land Registry. New data shows that prices rose by 15.6 percent in the year to April in both Greater London and in Brighton & Hove. In England and Wales as a whole, prices are up by an average of 9.1 percent in April, above ...

May 29, 2007

Asian, European equities mixed on session

by Elaine Frei

Most Asian and Pacific equities markets were higher on Tuesday. The main exception was the Hang Seng index in Hong Kong, which dropped 0.29 percent to 20,469.59. Elsewhere, the Straits Times index in Singapore added 0.36 percent to 3,527.08, while in India the Sensex was up 0.77 percent to 14,508.21 and in Australia the Sydney Ordinaries gained 1.02 percent ...

Survey: House price growth slows in May

by Elaine Frei

Property website Hometrack says that house prices will rise by 4 percent in 2007 as their most recent survey showed UK house prices up by 0.6 percent in May after growing by 0.7 percent in April. The average price of a house was at £175,600 in May, 6.7 percent higher than at the same time last year. Additionally, ...

RBS consortium to go forward with bid for ABN Amro

by Elaine Frei

Royal Bank of Scotland (LSE:RBS; NYSE: RBS PRM) and its consortium partners announced Tuesday that they will go ahead and make a bid for ABN Amro (Euronext: AAB; NYSE: ABN) despite the fact that ABN has already agreed to an offer from Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) and even though ABN has already rejected ...

May 25, 2007

European markets mixed on session

by Elaine Frei

Global equities markets were mixed on Friday. Most Asian markets were lower on the session, with the main exception being the Sensex, which added 0.85 percent to 14,338.45 in India. In Australia, the Sydney Ordinaries dropped 0.4 percent to 6,273.3. The Straits Times index in Singapore fell 0.54 percent to 3,486.63, while in Hong Kong, the Hang Seng index ...

Survey: One-quarter of UK account holders know their balance exactly

by Elaine Frei

How much money do you have in the bank? A new poll conducted by Sybase 365, a mobile messaging company, shows that 25 percent of adults in the UK can tell you exactly how much money they have in their account at any particular time. Of those who don’t know their exact bank balance, 38 percent can ...

Choice between mortgage types depends on needs, variable factors

by Elaine Frei

Choosing between a fixed-rate mortgage and a mortgage that charges the lender’s standard variable rate could depend very much on what the individual borrower needs from the mortgage. On one hand, with a fixed-rate mortgage, the borrower knows exactly what his or her repayment will be for the life of the loan. In contrast, variable rates…well, ...

May 24, 2007

Global equities markets lower

by Elaine Frei

Asian and Pacific equities markets were lower on Thursday. In China, the Shanghai Composite dropped 0.5 percent to close at 4,354.4 after dropping by as much as 1.5 percent in afternoon trade. Elsewhere in the region, the Straits Times index in Singapore dropped 0.72 percent to 3,515.66, while in India the Sensex fell 1.01 percent to 14,218.11. In Australia, the ...

Claims made that banks are misrepresenting overcharges judgement

by Elaine Frei

After a recent court ruling out of Birmingham said that the overdraft charges Lloyds TSB (LSE: LLOY) charged one man were justified, some individuals who are also seeking refunds of overdraft charges they feel are excessive are saying that their banks are using the decision to try to convince them not to pursue similar cases against their banks. ...

Survey: Young first-time home buyers need parents’ help

by Elaine Frei

...

May 23, 2007

European markets higher on session

by Elaine Frei

Asian and Pacific equities markets were mixed again on Wednesday. The Hang Seng index in Hong Kong dropped 0.22 percent to 20,798.97, while the Sensex was 0.63 percent lower to 14,363.26 in India. In Australia, however, the Sydney Ordinaries added 0.34 percent to 6,372. The Straits Times index in Singapore gained 0.77 percent to 3,552.31. Tokyo markets also ...

Barclaycard considering “low usage” fee

by Elaine Frei

Barclaycard, owned by Barclays plc (LSE: BARC; NYSE: BCS; TYO: 8642) has said that it is looking at charging customers who only use their cards once in awhile or who do not use it at all. It says that the fee would only be introduced as a “last resort” if a campaign to get cardholders to use their cards more - ...

Home Information Packs delayed to 1 August

by Elaine Frei

As expected, Communities Secretary Ruth Kelly announced on Tuesday that the controversial Home Information Packs, which had been scheduled to become compulsory on 1 June, will be delayed until 1 August, when they will begin to be phased in. According to the new plan, they will at first only be required for sales of homes that have four bedrooms ...

May 22, 2007

Markets mixed on session

by Elaine Frei

Asian and Pacific equities markets were mixed on Tuesday. In Australia, the Sydney Ordinaries were 0.35 percent lower to 6,350.2, while the Hang Seng Index in Hong Kong dropped 0.4 percent to 20,843.92. Gainers on the day included India’s Sensex, which added 0.24 percent to 14,453.72, and the Straits Times index in Singapore, which was 0.72 percent higher to 3,539.82. ...

Survey: Many cancer survivors charged more for travel insurance

by Elaine Frei

According to a survey by Macmillan Cancer Support, many individuals who have had cancer and recovered are still either refused travel insurance or must pay more for it. Six percent of the 1,137 people, all of whom were either in remission from their cancer or had recovered completely, said that they had been flatly refused coverage, while ...


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FM News: Banking News Insurance News Property News Mortgage News Economy News Investment News Credit Card News Debt News Loan News Pension News FM Main: FM Home Finance News Finance forums Finance Blog FM Features: Northern Rock Car Insurance Home Insurance	May 31, 2007 Global markets higher by Elaine Frei Equities markets in Asia and the Pacific were higher on Thursday. The Straits Times index in Singapore added 0.47 percent to 3,511.13. In India, the Sensex gained 0.92 percent to 14,544.46, while in Australia the Sydney Ordinaries were 1.12 percent higher to 6,341.8. The Hang Seng index in Hong Kong closed at 20,634.47, a gain of 1.68 percent on the session. ... Survey: 1 in 6 UK residents keep their money at home by Elaine Frei Where have you go your money hidden? A new survey from Virgin Money indicates that UK residents have at least £3.5 billion in cash stashed around the house rather than in a bank collecting interest. This, Virgin points out, is the more than the equivalent of the gross domestic product of The Bahamas, or enough money ... Bank of England data: Mortgage approvals down in April by Elaine Frei New Bank of England data shows that mortgage approvals were at their lowest level in a year in April, the third month in a row that fewer new mortgages were given the go-ahead. There were 107,000 mortgage approvals in April, compared to 111,000 in March. Buyers borrowed £8.9 billion more in the month, the smallest gain ... May 30, 2007 China markets lower on higher tax on share transactions by Elaine Frei Asian and European equities markets were lower on Wednesday after exchanges in China fell significantly after the government there tripled the stamp duty tax on share transactions. The Shanghai Composite closed 6.5 percent lower on the session to 4,053.01 after falling as much as 7.4 percent during the day. The Shanghai and Shinzhen 300, which indexes ... Lloyds wins another overdraft case; more judges express displeasure at bank’s failure to appear by Elaine Frei ... Mortgage lending down as house prices continue to rise by Elaine Frei House prices remain on the rise in the UK, according to the Land Registry. New data shows that prices rose by 15.6 percent in the year to April in both Greater London and in Brighton & Hove. In England and Wales as a whole, prices are up by an average of 9.1 percent in April, above ... May 29, 2007 Asian, European equities mixed on session by Elaine Frei Most Asian and Pacific equities markets were higher on Tuesday. The main exception was the Hang Seng index in Hong Kong, which dropped 0.29 percent to 20,469.59. Elsewhere, the Straits Times index in Singapore added 0.36 percent to 3,527.08, while in India the Sensex was up 0.77 percent to 14,508.21 and in Australia the Sydney Ordinaries gained 1.02 percent ... Survey: House price growth slows in May by Elaine Frei Property website Hometrack says that house prices will rise by 4 percent in 2007 as their most recent survey showed UK house prices up by 0.6 percent in May after growing by 0.7 percent in April. The average price of a house was at £175,600 in May, 6.7 percent higher than at the same time last year. Additionally, ... RBS consortium to go forward with bid for ABN Amro by Elaine Frei Royal Bank of Scotland (LSE:RBS; NYSE: RBS PRM) and its consortium partners announced Tuesday that they will go ahead and make a bid for ABN Amro (Euronext: AAB; NYSE: ABN) despite the fact that ABN has already agreed to an offer from Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642) and even though ABN has already rejected ... May 25, 2007 European markets mixed on session by Elaine Frei Global equities markets were mixed on Friday. Most Asian markets were lower on the session, with the main exception being the Sensex, which added 0.85 percent to 14,338.45 in India. In Australia, the Sydney Ordinaries dropped 0.4 percent to 6,273.3. The Straits Times index in Singapore fell 0.54 percent to 3,486.63, while in Hong Kong, the Hang Seng index ... Survey: One-quarter of UK account holders know their balance exactly by Elaine Frei How much money do you have in the bank? A new poll conducted by Sybase 365, a mobile messaging company, shows that 25 percent of adults in the UK can tell you exactly how much money they have in their account at any particular time. Of those who don’t know their exact bank balance, 38 percent can ... Choice between mortgage types depends on needs, variable factors by Elaine Frei Choosing between a fixed-rate mortgage and a mortgage that charges the lender’s standard variable rate could depend very much on what the individual borrower needs from the mortgage. On one hand, with a fixed-rate mortgage, the borrower knows exactly what his or her repayment will be for the life of the loan. In contrast, variable rates…well, ... May 24, 2007 Global equities markets lower by Elaine Frei Asian and Pacific equities markets were lower on Thursday. In China, the Shanghai Composite dropped 0.5 percent to close at 4,354.4 after dropping by as much as 1.5 percent in afternoon trade. Elsewhere in the region, the Straits Times index in Singapore dropped 0.72 percent to 3,515.66, while in India the Sensex fell 1.01 percent to 14,218.11. In Australia, the ... Claims made that banks are misrepresenting overcharges judgement by Elaine Frei After a recent court ruling out of Birmingham said that the overdraft charges Lloyds TSB (LSE: LLOY) charged one man were justified, some individuals who are also seeking refunds of overdraft charges they feel are excessive are saying that their banks are using the decision to try to convince them not to pursue similar cases against their banks. ... Survey: Young first-time home buyers need parents’ help by Elaine Frei ... May 23, 2007 European markets higher on session by Elaine Frei Asian and Pacific equities markets were mixed again on Wednesday. The Hang Seng index in Hong Kong dropped 0.22 percent to 20,798.97, while the Sensex was 0.63 percent lower to 14,363.26 in India. In Australia, however, the Sydney Ordinaries added 0.34 percent to 6,372. The Straits Times index in Singapore gained 0.77 percent to 3,552.31. Tokyo markets also ... Barclaycard considering “low usage” fee by Elaine Frei Barclaycard, owned by Barclays plc (LSE: BARC; NYSE: BCS; TYO: 8642) has said that it is looking at charging customers who only use their cards once in awhile or who do not use it at all. It says that the fee would only be introduced as a “last resort” if a campaign to get cardholders to use their cards more - ... Home Information Packs delayed to 1 August by Elaine Frei As expected, Communities Secretary Ruth Kelly announced on Tuesday that the controversial Home Information Packs, which had been scheduled to become compulsory on 1 June, will be delayed until 1 August, when they will begin to be phased in. According to the new plan, they will at first only be required for sales of homes that have four bedrooms ... May 22, 2007 Markets mixed on session by Elaine Frei Asian and Pacific equities markets were mixed on Tuesday. In Australia, the Sydney Ordinaries were 0.35 percent lower to 6,350.2, while the Hang Seng Index in Hong Kong dropped 0.4 percent to 20,843.92. Gainers on the day included India’s Sensex, which added 0.24 percent to 14,453.72, and the Straits Times index in Singapore, which was 0.72 percent higher to 3,539.82. ... Survey: Many cancer survivors charged more for travel insurance by Elaine Frei According to a survey by Macmillan Cancer Support, many individuals who have had cancer and recovered are still either refused travel insurance or must pay more for it. Six percent of the 1,137 people, all of whom were either in remission from their cancer or had recovered completely, said that they had been flatly refused coverage, while ... Next Page »	Latest News: British Airways drops 8 percent on session Quit smoking and save on life insurance Tracker mortgages provide strong competition for fixed-rates Retail sales fall at fastest rate for two decades First-time buyers return to property market Falling house prices leave home improvers out of pocket Former Barclays chairman joins Northern Rock Which? exposes incompetent mortgage advice New mortgage approvals decline 66% year-on-year June house sales slump by 45% Most Read News Today: US dollar weaker on soft data First-time buyers return to property market Falling house prices leave home improvers out of pocket Former Barclays chairman joins Northern Rock Which? exposes incompetent mortgage advice New mortgage approvals decline 66% year-on-year June house sales slump by 45% Sub-prime lender offers cash-back on mortgage redemptions Mortgage fees rise 20% in a year BoE Governor calls for savers’ guarantees Most Read News To Date: US dollar weaker on soft data 10 Ways Recession Can Help the Environment Futures Trading: A few examples BBC: Stock market crash in Autumn Britannia Building Society exposed to credit crunch Record sum spent on credit and debit cards last year HBOS rights issue looks uncertain Tracker rates fail to reflect base rate cuts Stricter planning laws required or homes will be uninsurable Wall Street declines in afternoon on Bernanke comments
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